OPEC Policy Is To Preempt Market Collapse Says Muhanna

OPECspolicy is to take steps to preempt a market collapse and avoid a new crisisover prices, according to Ibrahim Muhanna, Advisor to Saudi Arabias Minister ofPetroleum and Mineral Resources, in an article published in Asharq al-Awsaton 25 November. In this context, Dr Muhanna said OPEC and non-OPEC statesshould increase cooperation to allow prices to settle at around $22-25/B forthe OPEC basket. At the 14...